Ceres Power (LON:CWR) Shares Down 14.8% – What’s Next?

Shares of Ceres Power Holdings plc (LON:CWR) dropped 14.8% during trading on Saturday . The stock traded as low as GBX 307.53 and last traded at GBX 313.46. Approximately 6,301,889 shares traded hands during trading, an increase of 171% from the average daily volume of 2,325,161 shares. The stock had previously closed at GBX 368.

Wall Street Analysts Forecast Growth

CWR has been the topic of several research reports. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 460 price objective on shares of Ceres Power in a research note on Friday, November 7th. Berenberg Bank upped their price target on shares of Ceres Power from GBX 300 to GBX 530 and gave the stock a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Ceres Power currently has a consensus rating of “Buy” and a consensus target price of GBX 495.

Ceres Power Trading Down 14.8%

The company has a market cap of £609.42 million, a price-to-earnings ratio of -17.18 and a beta of 1.60. The company’s 50 day moving average price is GBX 244.49 and its 200 day moving average price is GBX 146.45. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48.

Ceres Power (LON:CWR) last issued its quarterly earnings data on Friday, September 26th. The company reported GBX (10.14) earnings per share (EPS) for the quarter. Ceres Power had a negative return on equity of 22.96% and a negative net margin of 101.69%. Research analysts anticipate that Ceres Power Holdings plc will post -12.4426979 EPS for the current year.

Ceres Power Company Profile

Ceres is a leading developer of clean energy technology: electrolysis for the creation of green hydrogen and fuel
cells for power generation. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Bosch, Doosan, Delta and Weichai. Ceres’ solid oxide technology supports greater electrification of our energy systems and produces green hydrogen at high-efficiencies as a route to decarbonise emissions-intensive industries such as steelmaking, ammonia and future fuels.